VNBTrust National Association held its position in shares of Altria Group (NYSE:MO) during the second quarter, Holdings Channel reports. The institutional investor owned 9,129 shares of the company’s stock at the end of the second quarter. VNBTrust National Association’s holdings in Altria Group were worth $629,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in MO. First PREMIER Bank purchased a new position in shares of Altria Group during the second quarter worth $103,000. CapWealth Advisors LLC raised its position in shares of Altria Group by 6.3% in the first quarter. CapWealth Advisors LLC now owns 2,073 shares of the company’s stock worth $130,000 after buying an additional 123 shares during the period. Barnett & Company Inc. purchased a new position in shares of Altria Group during the first quarter worth $180,000. Adirondack Trust Co. raised its position in Altria Group by 3.1% in the second quarter. Adirondack Trust Co. now owns 2,808 shares of the company’s stock worth $194,000 after buying an additional 85 shares during the period. Finally, Baker Boyer National Bank bought a new position in Altria Group during the second quarter worth approximately $207,000. Institutional investors own 61.29% of the company’s stock.
Shares of Altria Group (NYSE:MO) traded up 0.24% on Thursday, reaching $62.69. The company’s stock had a trading volume of 4,901,281 shares. The stock has a 50 day moving average of $63.99 and a 200-day moving average of $64.97. Altria Group has a 12 month low of $56.15 and a 12 month high of $70.15. The firm has a market cap of $122.50 billion, a price-to-earnings ratio of 21.77 and a beta of 0.52.
Altria Group (NYSE:MO) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Altria Group had a net margin of 22.05% and a return on equity of 198.82%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, analysts anticipate that Altria Group will post $3.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Thursday, September 15th were issued a $0.61 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $2.44 annualized dividend and a dividend yield of 3.89%. This is a boost from Altria Group’s previous quarterly dividend of $0.57. Altria Group’s dividend payout ratio is presently 84.72%.
A number of research firms have commented on MO. Vetr lowered Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.67 price objective on the stock. in a research note on Thursday, September 22nd. Credit Agricole SA lowered their price objective on Altria Group from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, September 15th. Argus set a $73.00 price objective on Altria Group and gave the stock a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research upgraded Altria Group from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Monday, July 11th. Finally, Jefferies Group began coverage on Altria Group in a research note on Wednesday, September 21st. They set a “hold” rating and a $70.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $69.44.
In related news, SVP Charles N. Whitaker sold 11,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $66.53, for a total value of $731,830.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James E. Dillard III sold 9,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $66.68, for a total value of $600,120.00. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.
About Altria Group
Altria Group, Inc is a holding company. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and UST LLC (UST), which through its subsidiaries, including U.S.